Automotive Electronics Market Share

Asia Pacific Market Forecast

The Asia Pacific automotive electronics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the escalating sale of vehicles along with the rising production of vehicles. For instance, in India, the auto industry produced around 22,933,000 vehicles from April 2021 to March 2022. As for burgeoning electronic component manufacturing operations, nations such as Taiwan, Malaysia, South Korea, and Thailand have considerably contributed to the market expansion in the region. Further, the presence of a strong automobile network in the region, and the rapidly growing penetration of vehicles, are also anticipated to contribute to the market growth in the region. In addition, the surge in the proportion of technologically advanced manufacturing units is also anticipated to boost the market growth during the forecast period.

Europe Market Forecast

Furthermore, the Europe automotive electronics market is also estimated to display notable market growth by the end of 2037. The growth of the market can be attributed to the existence of major automotive manufacturers such as Skoda, BMW, Volkswagen, and so on in the region. In addition to this, the growing awareness regarding the safety and security features in a vehicle, and the massively rising count of prominent automobile assembly and engine production factories are some further significant factors that are projected to accelerate the automotive electronics market in the region over the projected time frame. For instance, in Europe, there are approximately 306 automotive manufacturing and engine manufacturing plants that manufacture passenger cars, light commercial vehicles, heavy-duty vehicles, buses, and engines.